Quebec Looks to Tap CDPQ for Public Infrastructure Projects

Caisse de dépôt et placement du Québec (CDPQ) has reached an agreement with the Government of Québec to develop and manage infrastructure assets for the province. Under the agreement and subject to the approval of province legislative amendments, CDPQ will form a new subsidiary called CDPQ Infra. This unit will lead the planning, financing, execution and operation of selected infrastructure projects. CDPQ Infra will also actively seek out investments. Instead of placing higher debt burdens on Québec finances, pension money is being tapped to fund public infrastructure projects that can generate commercial returns.

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Two Projects

Two infrastructure projects have already been identified. One is creating a public transit system on Montréal’s new Champlain Bridge. The other project is having a public transit system that links downtown Montréal to the Montréal-Trudeau International Airport and the West Island.

“Infrastructure has been central to our investment strategy for several years,” said Michael Sabia, President and Chief Executive Officer of CDPQ in a press release. “Our clients look for tangible projects that generate stable, predictable returns. Infrastructure is perfectly aligned with their long-term goals.

“Today’s agreement will allow us to increase our exposure to infrastructure while concretely putting our expertise to work for Québec’s economy,” Mr. Sabia continued. “These investments will generate returns that help to secure Quebecers’ retirement for the future. It’s a win-win partnership that benefits everyone.”

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